Buy Crudeoil Jan @ 6100 SL 6000 TGT 6200-6300. MCX -Kedia Advisory
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CRUDE OIL:
Observations
Crudeoil trading range for the day is 5935-6281.
Crude oil edged up amid increasing tensions in the Middle East
OPEC said global oil demand will rise by a solid 1.85 million bpd in 2025 to 106.21 million bpd
Extreme cold weather conditions caused oil output to fall by 700,000 bpd in North Dakota.
API reported an unexpected 0.483 million barrels increase in US crude inventories last week
BUY CRUDEOIL JAN @ 6100 SL 6000 TGT 6200-6300. MCX
NATURAL GAS:
Observations:
Naturalgas trading range for the day is 210.1-253.9.
Natural gas prices are expected to ease due to forecasts of warmer weather in late January.
The amount of gas flowing to U.S. LNG export plants has decreased to a one-year low.
Average gas output in the Lower 48 states has fallen in January compared to December
Meteorologists project temperatures to become warmer than normal from Jan. 22-Feb. 1.
BUY NATURALGAS JAN @ 222 SL 217 TGT 228-232. MCX
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